Question: ANSWER PART A AND B Here are the account balances after the T Accounts have been prepared. 1. Cash 33,000 2. Accounts Receivable 9,500 3.

ANSWER PART A AND B Here are the account balances after the T Accounts have been prepared. 1. Cash 33,000 2. Accounts Receivable 9,500 3. Office Supplies1,500 4. Prepaid Insurance 2,000 5. Equipment 15,000 6. Accounts Payable 3,300 7.Unearned Revenue 2,810 8.Notes Payable 25,000 9. Common Stock 24,000 10. Dividends 2,600 11. Service Revenue 11,840 12. Salaries Expense 2,300 13. Rent Expense 800 14. Utilities Expense 250

Part A- First, Prepare the Trial Balance Part B-Complete the requirements below 1-4 Requirements 1. Prepare the income statement for the month ended July 31, 2017. 2. Prepare the statement of retained earnings for the month ended July 31, 2017. 3. Prepare the balance sheet as of July 31,2017 4. Calculate the debt ratio as of July 31,2017

The beginning balance of retained earnings was $0 and the owner contributed 3. Prepare the balance sheet as of July 31, 2017. 4. Calculate the debt ratio as of July 31, 2017.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

The truss consists of three members, each made from A-36 steel and having a cross-sectional area of 0.75 in 2 . Determine the greatest load P that can be applied so that the roller support at B is...

Problem 4-05A a-g Heidi Jara opened Bridgeport's Cleaning Service on July 1, 2019. During July, the following transactions were completed. July 1 Stockholders invested $19,900 cash in the business in...

Please complete this assignment into the excel template that attach with Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. During July, the company completed the following...

I have to incorporate more into a previous question, this is what needs to be added (PREVIOUS QUESTION IS SECOND PHOTO, ALREADY COMPLETED) Incorporate the following modifications: Ignore GST and...

Casado and Associates Bookkeeping Services- Process one complete accounting cycle Mariana Casado has bookkeeping business that provides bookkeeping services for small and medium businesses in the...

Data Table fent, lean Brinney Irrigation System Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash 15.800 Accounts Receivable 47 500 Office Supplies 24000 Prepaid...

journalize the adjusting entries / post the adjusting entries (ALL information provided! please correct the red) 1 Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2019. During July,...

July 1 CP4 Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions. Stockholders invested $14,000 cash in the business in...

CSLO KapCC ACC 201 Chap X Heidi Jana Opened Prongho x C Heidi Jera Opened Proghe X m/courses/48335/assignments/5434186?module_jtem_jd 16654237 G Concord Company ended it X Papage Heidi Jara opened...

B H J N o P R S T U R. A D E G 1 L M SPARKLE CLEANING SERVICE Problem Data For the Month Ended July 31, 2016 Fred Severini opened SPARKLE Cleaning Service on July 1, 2016. During July, the company...

Closing entries from an end-of-period spreadsheet Instructions Chart of Accounts Journal Instructions Alert Security Services Co. offers security services to business clients. Based on the...

Is it true that the manager with the highest residual income is always the best performer?

Let a, b, c, D, E be real numbers with c 0. a) If DE > 0, find all extrema of ax + by + cz subject to the constraint z = Dx2 + Ey2. Prove that a maximum occurs when cD 0....

Policies and procedures that address the management of computer resources and security are _ _ _ _ _ .

Scenario: A Multi-national Corporation called The Globe has created a subsidiary called Thirst in an under-developed country called non-potable waters. This hosting country suffers from a severe...

Enterprise owners. In view of transition to private control, ownership questions will be open to debate, and will include a combination of state, banking, private and foreign interest. These owners,...

Management and employees. Motivations and behaviours, and particularly responses to changes, may be critical factors in the ways emerging HRM policies and practices take shape.

The recent Employment Equity and Skills Development Bills of 1997 are aimed at redressing racial and gender-based employment inequalities, and require companies with more than 50 staff to formulate...